DE Shaw Looking to Buy SunEdison Solar Farms in Hawaii Despite HECO Cancellations

Here are some of the stories we’re reading this morning.

Eric Wesoff March 22, 2016

Eric Wesoff

Editor-at-Large
Greentech Media

Eric Wesoff is Editor-at-Large at Greentech Media. Prior to joining GTM, Eric Wesoff founded Sage Marketing Partners in 2000 to provide sales and marketing-consulting services to venture-capital firms and their portfolio companies in the alternative energy and telecommunications sectors. Mr. Wesoff has become a well-known, respected authority and speaker in these fields.

His expertise covers solar power, fuel cells, biofuels and advanced batteries. His strengths are in market research and analysis, business development and due diligence for investors. He frequently consults for energy startups and Silicon Valley's premier venture capitalists.

Bloomberg: D.E. Shaw Wants SunEdison Projects That Lost Utility Deals

D.E. Shaw & Co. is still seeking to acquire three SunEdison Inc. solar farms in Hawaii, even after the local utility canceled contracts to buy the electricity.

D.E. Shaw, a New York-based hedge fund managing more than $37 billion, is “eager to find a commercially reasonable solution” to reinstate the power-purchase agreements, according to a letter submitted last week to Hawaiian Electric Co. The company agreed to acquire the projects from SunEdison in December.

The utility pulled out of the contracts in February, citing SunEdison’s financial condition. SunEdison’s debt swelled last year as it expanded on six continents, and its shares plunged in the second half amid questions about its liquidity. While Hawaiian Electric’s decision reflected growing concern about the world’s biggest clean-energy developer, D.E. Shaw’s interest in the projects is a sign that its assets still have value.

Seeking Alpha: Vivint Solar -- Huge Potential After the Broken Deal

Vivint Solar has seen its stock price decimated since its merger with SunEdison was called off.

However, for some reason, Vivint Solar's stock price took a hit to noticeably below its pre-acquisition price.

PV Tech: Why Discussion and Analysis on PV Equipment Spending Is So Important Today

Having spent much of last week on the stage at PV CellTech moderating and speaking, it struck me that it seems such a long time since there was any good discussion about PV equipment spending or useful visuals like graphics displaying new-order-intake, net-revenues and tool-backlogs.

As a leading indicator of what is happening in PV technology and capacity expansions, this type of information is priceless to solar PV manufacturers and suppliers. It is also a damned good way of knowing who is producing and innovating, not to mention who is simply outsourcing across the value chain.

Not wishing to labor a point here, but could you even imagine a semiconductor industry where there were no analysts bothering to collate and discuss the minutiae surrounding capital equipment bookings trends?

Food Business News: Algae Company Solazyme Changing Name to TerraVia

Solazyme, a supplier of algae-based ingredients, will change its name to TerraVia as it plans to focus exclusively on food, nutrition and specialty ingredients.

That’s not the only change for the South San Francisco-based company. Solazyme has entered into a definitive purchase agreement for a financing round of about $28 million. The company also is looking for a new chief executive officer. Jonathan S. Wolfson, company co-founder and CEO, has been appointed chairman of the board. He will assume a full-time role as executive chairman once a new CEO is named.

Solazyme offers such specialty food ingredients as AlgaVia whole algae ingredients and AlgaWise algae oils. The company’s consumer food products include Thrive culinary algae oil. The company also offers specialty personal care ingredients, and animal nutrition ingredients are a new area for the company.